Joshua borrowed $1000 from his friend and paid him back $1050 in six months. What simple annual interest did Joshua pay his friend?

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Jasonmw asked Mar 2, 2022

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Joshua borrowed $1000 from his friend and paid him back $1050 in six months. What simple annual interest did Joshua pay his friend?

Mathematics
college

Jasonmw asked Mar 2, 2022

by Jasonmw

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27 votes

Answer:

Explanation:

1050=1000(1+.5*i)

i= 10%

Cboler answered Mar 4, 2022

by Cboler

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19 votes

Answer:

80 dollars is the correct answer

Eeerahul answered Mar 8, 2022

by Eeerahul

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